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Written by Middleton O'Malley
Real Estate Tips
Have you been thinking about selling a lot? Well, you might think again because lots, unless absolutely top of the line, or incredibly unique, are a tough sell at the moment. Here’s why: Imagine that you are thinking about building your dream home in a gated subdivision where a 15,000 sq ft. lot costs $125,000, and the cost of building is a modest 200 bucks a square foot for a 3,500 sq. ft. house. When you do the math it comes out to $825,000. Now, because the market is softer than in pre-Katrina days, you can now buy an almost new 3,500 sq. ft. home in the same subdivision for $725,000. How do you like the 100K you have just saved?
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